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FEDERAL SIGNAL CORP（FSS）与ROYAL GOLD INC（RGLD）财务数据对比。点击上方公司名可切换其他公司
FEDERAL SIGNAL CORP的季度营收约是ROYAL GOLD INC的1.6倍（$597.1M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 10.2%，领先14.8%），ROYAL GOLD INC同比增速更快（85.3% vs 26.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 18.5%）
联邦信号公司是20世纪早期的美国企业，主营铁路信号设备的制造业务，总部坐落于美国纽约州奥尔巴尼市，其生产的相关信号产品在当时的美国轨道交通行业得到了广泛应用，具备一定的行业知名度。
Royal Gold Inc.是全球领先的贵金属流权与特许权经营企业，收购并管理多元化的矿业项目流权、净熔炼收益特许权及相关权益，资产覆盖黄金、白银、铜等品类，业务遍及多地区，无需直接承担采矿运营风险。
FSS vs RGLD — 直观对比
营收规模更大
FSS
是对方的1.6倍
$375.3M
营收增速更快
RGLD
高出58.8%
26.5%
净利率更高
RGLD
高出14.8%
10.2%
两年增速更快
RGLD
近两年复合增速
18.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $375.3M |
| 净利润 | $60.8M | $93.6M |
| 毛利率 | 28.4% | 64.6% |
| 营业利润率 | 14.0% | 56.2% |
| 净利率 | 10.2% | 24.9% |
| 营收同比 | 26.5% | 85.3% |
| 净利润同比 | 21.6% | -12.8% |
| 每股收益（稀释后） | $0.99 | $1.04 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FSSRGLD
| Q4 25 | $597.1M | $375.3M | ||
| Q3 25 | $555.0M | $252.1M | ||
| Q2 25 | $564.6M | $209.6M | ||
| Q1 25 | $463.8M | $193.4M | ||
| Q4 24 | $472.0M | $202.6M | ||
| Q3 24 | $474.2M | $193.8M | ||
| Q2 24 | $490.4M | $174.1M | ||
| Q1 24 | $424.9M | $148.9M |
净利润FSSRGLD
| Q4 25 | $60.8M | $93.6M | ||
| Q3 25 | $68.1M | $126.8M | ||
| Q2 25 | $71.4M | $132.3M | ||
| Q1 25 | $46.3M | $113.5M | ||
| Q4 24 | $50.0M | $107.4M | ||
| Q3 24 | $53.9M | $96.2M | ||
| Q2 24 | $60.8M | $81.2M | ||
| Q1 24 | $51.6M | $47.2M |
毛利率FSSRGLD
| Q4 25 | 28.4% | 64.6% | ||
| Q3 25 | 29.1% | 73.6% | ||
| Q2 25 | 30.0% | 72.6% | ||
| Q1 25 | 28.2% | 69.4% | ||
| Q4 24 | 28.1% | 70.3% | ||
| Q3 24 | 29.6% | 66.6% | ||
| Q2 24 | 29.4% | 64.7% | ||
| Q1 24 | 27.3% | 58.4% |
营业利润率FSSRGLD
| Q4 25 | 14.0% | 56.2% | ||
| Q3 25 | 16.9% | 64.4% | ||
| Q2 25 | 17.3% | 67.7% | ||
| Q1 25 | 14.2% | 63.6% | ||
| Q4 24 | 14.9% | 65.9% | ||
| Q3 24 | 16.0% | 61.3% | ||
| Q2 24 | 16.5% | 58.6% | ||
| Q1 24 | 12.8% | 50.7% |
净利率FSSRGLD
| Q4 25 | 10.2% | 24.9% | ||
| Q3 25 | 12.3% | 50.3% | ||
| Q2 25 | 12.6% | 63.1% | ||
| Q1 25 | 10.0% | 58.7% | ||
| Q4 24 | 10.6% | 53.0% | ||
| Q3 24 | 11.4% | 49.7% | ||
| Q2 24 | 12.4% | 46.6% | ||
| Q1 24 | 12.1% | 31.7% |
每股收益（稀释后）FSSRGLD
| Q4 25 | $0.99 | $1.04 | ||
| Q3 25 | $1.11 | $1.92 | ||
| Q2 25 | $1.16 | $2.01 | ||
| Q1 25 | $0.75 | $1.72 | ||
| Q4 24 | $0.80 | $1.63 | ||
| Q3 24 | $0.87 | $1.46 | ||
| Q2 24 | $0.99 | $1.23 | ||
| Q1 24 | $0.84 | $0.72 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $63.7M | $233.7M |
| 总债务越低越好 | $564.6M | — |
| 股东权益账面价值 | $1.4B | $7.2B |
| 总资产 | $2.4B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.41× | — |
8季度趋势，按日历期对齐
现金及短期投资FSSRGLD
| Q4 25 | $63.7M | $233.7M | ||
| Q3 25 | $54.4M | $172.8M | ||
| Q2 25 | $64.7M | $248.2M | ||
| Q1 25 | $57.5M | $240.8M | ||
| Q4 24 | $91.1M | $195.5M | ||
| Q3 24 | $73.7M | $127.9M | ||
| Q2 24 | $48.6M | $74.2M | ||
| Q1 24 | $48.9M | $137.9M |
总债务FSSRGLD
| Q4 25 | $564.6M | — | ||
| Q3 25 | $201.2M | — | ||
| Q2 25 | $258.3M | — | ||
| Q1 25 | $266.9M | — | ||
| Q4 24 | $204.4M | — | ||
| Q3 24 | $223.3M | $0 | ||
| Q2 24 | $248.8M | $50.0M | ||
| Q1 24 | $266.8M | — |
股东权益FSSRGLD
| Q4 25 | $1.4B | $7.2B | ||
| Q3 25 | $1.3B | $3.4B | ||
| Q2 25 | $1.3B | $3.3B | ||
| Q1 25 | $1.2B | $3.2B | ||
| Q4 24 | $1.2B | $3.1B | ||
| Q3 24 | $1.1B | $3.0B | ||
| Q2 24 | $1.1B | $3.0B | ||
| Q1 24 | $1.0B | $2.9B |
总资产FSSRGLD
| Q4 25 | $2.4B | $9.5B | ||
| Q3 25 | $1.9B | $4.5B | ||
| Q2 25 | $1.9B | $3.6B | ||
| Q1 25 | $1.9B | $3.5B | ||
| Q4 24 | $1.8B | $3.4B | ||
| Q3 24 | $1.7B | $3.3B | ||
| Q2 24 | $1.7B | $3.3B | ||
| Q1 24 | $1.7B | $3.3B |
负债/权益比FSSRGLD
| Q4 25 | 0.41× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | 0.19× | 0.00× | ||
| Q2 24 | 0.23× | 0.02× | ||
| Q1 24 | 0.26× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $97.2M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $89.5M | — |
| 自由现金流率自由现金流/营收 | 15.0% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 1.60× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $227.1M | — |
8季度趋势，按日历期对齐
经营现金流FSSRGLD
| Q4 25 | $97.2M | $241.7M | ||
| Q3 25 | $61.1M | $174.0M | ||
| Q2 25 | $59.7M | $152.8M | ||
| Q1 25 | $36.7M | $136.4M | ||
| Q4 24 | $90.6M | $141.1M | ||
| Q3 24 | $68.8M | $136.7M | ||
| Q2 24 | $40.6M | $113.5M | ||
| Q1 24 | $31.3M | $138.3M |
自由现金流FSSRGLD
| Q4 25 | $89.5M | — | ||
| Q3 25 | $54.1M | — | ||
| Q2 25 | $52.4M | — | ||
| Q1 25 | $31.1M | — | ||
| Q4 24 | $82.1M | — | ||
| Q3 24 | $60.9M | — | ||
| Q2 24 | $24.8M | — | ||
| Q1 24 | $22.9M | — |
自由现金流率FSSRGLD
| Q4 25 | 15.0% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 6.7% | — | ||
| Q4 24 | 17.4% | — | ||
| Q3 24 | 12.8% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 5.4% | — |
资本支出强度FSSRGLD
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.0% | — |
现金转化率FSSRGLD
| Q4 25 | 1.60× | 2.58× | ||
| Q3 25 | 0.90× | 1.37× | ||
| Q2 25 | 0.84× | 1.15× | ||
| Q1 25 | 0.79× | 1.20× | ||
| Q4 24 | 1.81× | 1.31× | ||
| Q3 24 | 1.28× | 1.42× | ||
| Q2 24 | 0.67× | 1.40× | ||
| Q1 24 | 0.61× | 2.93× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
FSS
| Vehiclesandequipment | $403.4M | 68% |
| Parts | $66.8M | 11% |
| Publicsafetyandsecurityequipment | $62.2M | 10% |
| Rentalincome | $19.0M | 3% |
| Industrialsignalingequipment | $18.2M | 3% |
| Other | $14.9M | 2% |
| Warningsystems | $12.6M | 2% |
RGLD
| Gold | $216.9M | 58% |
| Pueblo Viejo | $47.3M | 13% |
| Andacollo | $32.6M | 9% |
| Silver | $32.1M | 9% |
| Other | $27.2M | 7% |
| Copper | $13.7M | 4% |
| Cortez Legacy Zone | $5.4M | 1% |
